Saxo Bank’s Van-Petersen: Bitcoin Price At $100k By 2019 Is ‘Prudent’

Saxo Bank global macro strategist and famous Bitcoin bull Kay Van-Petersen has said Bitcoin prices will hit “$50,000 – $100,000 within the next six to 18 months.”

Speaking to Bloomberg in a short interview, Van-Petersen explained that the influx of institutional money would be the “catalyst” in pushing Bitcoin prices even further.

“We’ll get a cascade of ETFs, mutual funds and other investment vehicles breaking out,” he forecast, describing the $100,000 price tag as a “prudent” prediction.

Not just Bitcoin, but other cryptocurrencies could “do better” in terms of price growth from the same phenomenon, the analyst continued, highlighting Ethereum as a possible next contender specifically for ETFs.

“The astonishing thing – mindblowing if you will – is that you take a step back and look at the price appreciation… a lot of this has happened without traditional institutional money, and that’s basically going to be coming on board over the next six to 18 months,” Van-Petersen continued.

As Bitcoin continues to go well beyond any analyst’s expectations for short-term growth, even the most hardline proponents are being left to wonder what could be next.